C.31 Compliance - Checklist

Compliance Dates & Checklist

Premium Broker is committed to being 100% compliant. Premium Broker have therefore designed a compliance checklist, tools and procedures to assist all our brokers achieve this. The objective is to help Brokers better understand compliance and offer an extra level of protection in our regulated industry. It is therefore designed to compliment VowNet and if VowNet is completed correctly - should have minimal effect on brokers time.

COMPLIANCE PROCEDURE

Week 1 - Settled

Loan event will be triggered by entering the "Settled" Stage and an automated review sent to the compliance manager and the broker owner.

Week 2 - Checklist

1 week after the loan settles the Premium Broker Compliance Manager (CM) will create the compliance checklist and quickly review of the file. Once the compliance check is completed the CM will send the broker a copy of the Compliance Report.

Week 3 - Review & Acceptance

The broker will be provided with another week to review the report and the opportunity to update VowNet. (ie assumed that a document was not saved correctly, or the report is not accurate). If the broker does not respond within 1 week the CM will download the Compliance Report into VowNet and the file will be tinted Green to indicate the file has passed the Compliance Check.

Extensions

The broker may request an extension to the CM via email.

Breach Register

Any question answered "No" in the checklist will need to addressed by the broker and if it cannot be resolved the matter will be updated as a breach in the Premium Broker Breach Register. A copy of the breach notice will appear as a file note on the Deal.